Syngas & Derivatives Market Worth 501,932 MWth by 2024 - Exclusive Report by MarketsandMarkets

CHICAGO, Dec. 9, 2019 /PRNewswire/ -- According to the new market research report "Syngas & Derivatives Market by Production Technology, Gasifier Type, Feedstock (Coal, Natural Gas, Petroleum Byproducts, Biomass/Waste), Application (Chemicals, Fuel, and Electricity), and Region - Global Forecast to 2024", published by MarketsandMarkets, the Syngas & Derivatives Market, in 2019 is estimated at 277,507 MWth and is projected to reach 501,932 MWth by 2024, at a CAGR of 12.6% from 2019 to 2024. Rising environmental concerns have been the major driver for the growth of the syngas & derivatives market in order to provide alternative methods of fuel production.

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1178

Browse in-depth TOC on 

"Syngas & Derivatives Market"88 – Tables 45 – Figures 184 – Pages

View Detailed Table of Content Here:

https://www.marketsandmarkets.com/Market-Reports/syngas-market-1178.html

Chemicals segment accounts for the largest share of the syngas & derivatives market

The chemicals segment is estimated to lead the syngas & derivatives market in 2019, due to the rising demand for chemicals for the production of syngas & derivatives from methanol, ammonia, and Fischer-Tropsch synthesis products. Chemicals such as methanol are used as fuel as well as feedstock, which makes it the most important chemical from synthesis. Ammonia being the major chemical for manufacturing fertilizers drives the growth of the chemical segment in the syngas & derivatives market.

Request Sample Pages:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=1178

Biomass/waste segment is estimated to witness fastest growth in the syngas & derivatives market, during the foreast period

Based on feedstock, the biomass/waste segment is estimated to witness highest growth in the syngas & derivatives market during the foreast period. Increasingly stringent environmental guidelines across developed and developing economies, as well as the reducing coal & natural gas reserves, have accelerated the adoption and growth of biomass/waste feedstock in the production of syngas & derivatives. Biomass/waste is used as feedstock to produce syngas & derivatives as clean and renewable energy, which can be used in chemical, fuel, and electricity applications.